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Ibrahim Hammoud Questions
1381 Questions
What is the essential procedural difference between workpaper eliminating entries for unrealized intercom- pany profit made when the selling affiliate is a less than wholly owned subsidiary and those made when the selling affiliate is the parent company or a wholly owned subsidiary?
Accounting
2022-07-08
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236
What procedure is used in the consolidated statements workpaper to adjust the noncontrolling interest in consolidated net assets at the beginning of the year for the effects of intercompany profits?
Accounting
2022-07-08
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141
Why are adjustments made to the calculation of the non- controlling interest for the effects of intercompany profit in upstream but not in downstream sales?
Accounting
2022-07-08
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172
Are the adjustments to the noncontrolling interest for the effects of intercompany profit eliminations illustrated in this text necessary for fair presentation in accordance with generally accepted accounting principles? Explain
Accounting
2022-07-08
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191
Why is the gross profit on intercompany sales, rather than profit after deducting selling and administrative expenses, ordinarily eliminated from consolidated inventory balances?
Accounting
2022-07-08
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181
Does the elimination of the effects of intercompany sales of merchandise always affect the amount of reported consolidated net income? Explain
Accounting
2022-07-08
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160
What are the arguments for and against the alternatives for the handling of bargain acquisitions? Why are such acquisitions unlikely to occur with great frequency?
Accounting
2022-07-08
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The parent company’s share of the fair value of the net assets of a subsidiary may exceed acquisition cost. How must this excess be treated in the preparation of consolidated financial statements?
Accounting
2022-07-08
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434
How do you determine the amount of “the difference bet- ween book value and the value implied by the purchase price” to be allocated to a specific asset of a less than wholly owned subsidiary?
Accounting
2022-07-08
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425
In what account is the difference between book value and the value implied by the purchase price recorded on the books of the investor? In what account is the “excess of implied over fair value” recorded?
Accounting
2022-07-08
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423
Distinguish among the following concepts:
Accounting
2022-07-08
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365
What do potential voting rights refer to, and how do they affect the application of the equity method for investments under IFRS? Under U.S. GAAP? What is the term generally used for equity method investments under IFRS?
Accounting
2022-07-08
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In the preparation of a consolidated statement of cash flows, what adjustments are necessary because of the existence of a noncontrolling interest? (AICPA adapted)
Accounting
2022-07-08
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1381
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